Can be used as a weapon, but not a good one because it only decreases your stats and cannot be used on Player versus Player worlds to acquire increase in drop potential. Usable at Duel Arena, where you can choose to only have "Funny weapons", such as rubber chicken and flowers.

Can be used in Summoning to make Praying Mantis pouches.

Notes:

You get mithril seeds from the Waterfall quest and you can buy them from Legends guild after completing the Legends quest.